What three grounds explain, according to Böhm-Bawerk, the preference
for present goods over future? Which of them does he conclude to be the
most important? State Fisher’s criticism; and give your own opinion on
the controverted question.

“In the present condition of industry, most sales are made by men
who are producers and merchants by profession. . . .For them, the
subjective use value of their own wares is, for the most part, very
nearly nil. … In sales by them the limiting effect which,
according to our theoretical formula, would be exerted by the valuation
of the last seller, practically does not come into play.” — Böhm-Bawerk.
What is the ” theoretical formula “? and what is the importance of the qualification here stated?

They are important reminders that in his day Bohm-Bawerk was recognized as in important and distinct economic theorist. In fact, there is much at Economics in the Rear-View Mirror that reveals Austrian economics had a significant place at the economics table before World-War II.